Releasing on the 06th of May 2016, the Nonfarm Payrolls data is to be taken into close consideration amidst a period of sluggish U.S economic growth and a dollar losing in strength. The last NFP data settled at 215K, lower by 30K from the previous one. For the month of April, a fall by 12K has been forecasted by analysts.
The dollar already made frail by Fed’s decision to keep interest rates steady, can potentially hit the lows further if the forecast goes right. This will entail changes in the trends of other dollar denominated assets too.
To be able to successfully tap the opportunities arising from the data, enroll for our exclusive NFP webinar to be hosted by our financial expert, Mike Roberts.
Meanwhile, here are some practical tips:
If the NFP reading is Positive / bullish :
CALL USDJPY /USDCAD (First 15 minutes after release)
|CALL Dow Jones /S&P 500|
|PUT EURUSD/ GBPUSD|
|If the NFP reading is Negative / bearish:||CALL GBPUSD / EURUSD|
|PUT USDJPY / USDCAD (First 15 minutes after release)|
|PUT S&P 500 / PUT Dow Jones|
Hop on our next webinar so as to make worthwhile gains out of the NFP event. Join now